Yekatarinburg, Russia, 9 July 2016: India’s Junior Men’s team started their EurAsia Cup campaign with an emphatic 3-1 victory against Dinamo Stroitel today.

Despite a quick start to the encounter, neither team looked like breaking the deadlock. India though came closest, with a flurry of penalty corners in the first 15 minutes. Dinamo’s goalkeeper Dryanitsyn Artem kept the effort of the Indian team out of the goals. Dinamo had their own PC a few minutes later but failed to score from it. The two teams went into half time goalless.

The match was attended by the Governor of Yekaterinburg and Indian High Commissioner Mr Pankaj Saran.

India came out stronger in the second half and soon enough started exerting their influence on the game. They scored the opener, after a technical foul in the circle led to them being awarded a stroke in the 44th minute. Varun Kumar made no mistake from the spot to give his team the lead. Simranjeet Singh doubled the lead in the 45th minute, before Vikramjit added a third eight minutes later.

As the game started running away from the host team, they scored a consolation field goal from L Alexander in the 59th minute to reduce the lead to two as India held on strongly to end up 3-1 winners.

Madam Speaker, there is a net reduction in Gross Traffic Receipts by Rs.15,744 crore in RE 2015-16 compared to the BE target of Rs.1,83,578 crore. Passenger Earnings were budgeted to increase by 16.7% over R.E. 2014-15. However, the actual growth target for 2015-16 was 18.9% since passenger earnings in 2014-15 fell short of the RE target. This has been scaled down keeping in view the persistent negative growth trend since 2013-14 both in the suburban and non-suburban non-PRS segment of travel. Similarly, in freight earnings, though BE 2015-16 was projected at Rs.1,21,423 crore with a loading target of 1186.25 million tonne (MT) and an average lead of 626 km, the growth has been impacted mainly on account of low demand from the core sector resulting in resetting the target in R.E. 2015-16 to Rs.1,11,853 crore.

Madam Speaker, Passenger Earnings were budgeted to increase by 22.2%. This has been scaled down to 17.7% keeping in view the persistent negative growth trend, particularly in nonsuburban non-PRS segment of travel. There is a net reduction in Gross Traffic Receipts by Rs.917 crore in RE compared to the BE of Rs.1,60,165 crore.

13. This, Madam Speaker, implies that we spend 94 paise out of every rupee earned, leaving 6 paise only as surplus. This surplus, apart from being meager, is continuously on decline due to non-revision of fare. The surplus, after paying obligatory dividend and lease charges, was Rs.11,754 crore in 2007-08 and is estimated to be Rs.602 crore in the current financial year.

FINANCIAL PERFORMANCE 2013-14:

1. Since presentation of Interim Budget and passing of the ’Vote on Account‘ in February last, financial position has undergone a change. Madam Speaker, Railways carried 1050.18 million tonnes. Goods Earnings were short only by Rs.94 crore. Originating passengers, also, were less by 46 million over Revised target and Passenger earnings were short by Rs.968 crore over Revised target.

2. Over all, though the Gross Traffic Receipts grew by 12.8% to reach Rs.1,39,558 crore, it was short of Revised target by Rs.942 crore. On the other hand, Ordinary Working Expenses stood at Rs.97,571 crore, which was in excess by Rs.511 crore.

BUDGET ESTIMATES FOR 2014-15:

1. Anticipating a healthier growth of economy, I hope to achieve total receipts ofRs.1,64,374 crore and would peg total expenditure at Rs.1,49,176 crore

Last year, a five-year investment plan of Rs.8.56 lakh crore was unveiled. The capex plan for 2015-16 was increased to Rs.1 lakh crore as against an average of about Rs.48,000 crore spent during 2009-2014. We have spent over Rs.93,000 crore against the aforesaid target, a feat never achieved earlier by Indian Railways. For the first time, we decided to go in for sustained borrowing from the market to meet the enhanced capex requirements. A financing facility has been extended by LIC to provide Rs. 1.5 lakh crore over a period of five years. For 2016-17, our target is to spend Rs.1.21 lakh crore as capex, 34% higher than 2015-16.

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